Drat! Those dirty socialist s*** at the Wall Street Journal keep
printing this 'doom and gloom'...
FDIC to Add Staff as Bank Failures Loom
By Damian Paletta
WA****NGTON -- The Federal Deposit Insurance Corp. is taking steps to
brace for an increase in failed financial institutions as the nation's
housing and credit markets continue to worsen.
The FDIC is looking to bring back 25 retirees from its division of
resolutions and receiver****ps. Many of these agency veterans likely
worked for the FDIC during the late 1980s and early 1990s, when more
than 1,000 financial institutions failed amid the savings-and-loan
crisis.
FDIC spokesman Andrew Gray said the agency was looking to bulk up "for
preparedness purposes." The division now has 223 employees, mostly
based in Dallas.
http://online.wsj.com/article/SB120398607404892133.html?mod=WSJBlog
February 26, 2008, 11:26 am
FDIC Classifies 'Problem' Banks
magnifyThe FDIC classified 76 banks as "problem" institutions for the
fourth quarter of 2007, up from 65 in the third quarter, showing that
a growing number of financial institutions are under strain.
"Problem" institutions are those under closer regulatory scrutiny, as
the banks are more likely to have weak capital cu****ons to prevent
against failure. The FDIC never identifies which institutions are on
the list, as it could lead customers to rapidly withdraw funds from
the bank.
The 76 "problem" institutions had combined assets of $22.2 billion,
the FDIC said. Federal bank regulators have said they expect to see
more bank failures in the future.
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Odd. They don't publish the list to warn us of which banks are in
trouble.
We'll just have to guess, since the FDIC won't warn us.
Wouldn't want to trigger a run on a bank, now, would we?
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..d
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